As $x$ approaches $a$, $f(x)$ approaches $L$.
First, we emphasize what is happening to the independent variable, then we explain the consequence. I think that this phrasing is concise and easy to understand. It is clean and efficient. This is essentially (3), but I think that the sub-clause "The limit..." is unnecessary.
Moreover, if we have a fixed function and want to consider limits at several points, it provides a consistent framework. For example, consider the rational function
$$ f : \mathbb{R}\setminus\{\pm 1\} \to \mathbb{R} : x \mapsto \frac{x+1}{x^2 - 1}. $$
As $x$ approaches $\pm \infty$, $f(x)$ approaches $0$. On the other hand, as $x$ approaches $-1$, $f(x)$ approaches $1/2$, and as $x$ approaches $1$, $f(x)$ is unbounded (in either the positive or negative direction, depending on whether the limit is taken from the left or the right).